All Forum Posts by: Vaknin Ronen

I’m exploring how to best structure compensation for equity investors in NYC real estate development projects.

For example, if an investor brings in a significant share of the equity, should the deal be structured as:

• A straight preferred return (e.g. 8–10% annually),

• An equity split based on their share of the capital contributed,

• Or a hybrid (smaller preferred return + share of profits)?

For those of you who have done projects in NYC:
👉 What structures are investors here most comfortable with?
👉 What do you usually offer (or accept) to keep the deal attractive and fair on both sides?

I’m looking to build long-term relationships with equity partners, so I’d like to hear from people with local experience on what works best in this market.

Thanks in advance!

Hi everyone,

I’m preparing my first lender package for a real estate project and want to make sure I present it the right way.

For those who’ve successfully secured financing:

• What documents do lenders usually expect up front (executive summary, pro forma, rent roll, comps, appraisal, etc.)?

• How detailed should the financials be at first contact — high-level summary or full spreadsheets with assumptions?

• From your experience, do lenders focus more on the property metrics (DSCR, LTV, comps) or on the borrower's track record and net worth at the initial stage?

• If anyone has sample packages or templates you’re willing to share, that would be a huge help.

To be clear: I’m not asking for funding — just learning how to package my materials so that when I approach lenders, I’m professional and prepared.

Thanks in advance for any insights!

Hi everyone,

I’m working on putting together my first investor pitch for a real estate project, and I’d love to hear from people who have successfully raised capital before.

Specifically, I’d like to know:

• What do you usually include in an investor packet or pitch deck?

• Do you have sample files or templates you’d be willing to share (executive summary, pro forma, deck)?

• How detailed should the financials be for a first approach — high-level returns or full spreadsheets?

• Do investors care more about the property itself, or the team/track record in the initial presentation?

To be clear: I’m not asking for funding here. I just want to learn how to package my materials so that when I do talk to investors, I’m prepared and professional.

Thanks in advance for any advice or examples you can share!

Hey BP community,

I’m looking for feedback on a deal I’m working on in Harlem: 64 W 132nd Street. This is a DOB-approved 6-story boutique condo development with 9 residential units totaling ~6,445 SF. Layout includes 3 studios, 3 one-bedrooms, and 3 two-bedrooms, all ADA adaptable, sprinklered, and energy-code compliant.

Key Deal Points (Fix & Flip exit):

• Purchase Price: $1.25M

• Rehab Budget (new construction): $3.0M

• Total Project Cost: ~$4.3M

• After Repair Value (ARV): ~$7.05M

• Projected Profit: ~$1.65M (before financing costs)

• ROI: ~33% immediate (~16% annualized)

Why I Like It:

• DOB approvals already in hand (July 2023 stamp).

• Harlem new-construction condo comps are trading in the $1,100–$1,200+ per SF range, which supports a ~$7M sell-out:

  • 58 W 131st St – $1,185/SF

  • 62 W 131st St – $1,150/SF

  • 74 W 131st St – $1,125/SF

  • Average across recent sales: ~$1,150/SF

• Exit strategy is straightforward → condo sell-out. (I ran the BRRR numbers too, but the cash flow didn't pencil out — the flip looks far stronger.)

My Ask:
For those who’ve done boutique condo flips or new-build sell-outs in NYC:

1. Do my ARV numbers (~$7.05M sell-out) look realistic given today's Harlem market?

2. Any pitfalls I should expect with marketing/selling a 9-unit condo building?

3. Financing-wise, what leverage structures have you seen work best for ground-up boutique condos in NYC?

Appreciate any insights from investors and lenders who’ve been in the trenches with NYC development.

Thanks in advance!